by oilluber » Sun 11 Dec 2005, 00:52:55
$this->bbcode_second_pass_quote('kochevnik', ':')!:
Interesting to see the commercials (smart money) going shorter and the non-commercials (dumb money) going longer (Dec. 6th report). Personally I have a feeling the market is going to challenge the OPEC's stated floor price of about $48 - futures (or OPEC basket price of $40 to $45). I think it will take some time to get there (months ?). From there I think it just goes up.
But what do I know ?

Some times, the dumb money is right, look at the gold futures !!
I would not bet heavily on 40-45 oil, think of general commidty inflation
and US dollar inflation,,, your 40 dollar oil is very cheap in terms
of the eroded USD.